Yamaha Motor Corp reported sales of ¥828.1bn for the first half of its fiscal year, up 6.4% compared to the same period a year ago. Net income was up 87.5% to ¥60.8bn compared to the same period a year ago. The company’s sales and income were both records for Yamaha.
Its marine business segment’s sales were up 5.5% to ¥179.7bn for the first half of the year, while operating income was down 3.5% to ¥36.9bn. The company said sales were up because of “healthy unit sales” in North America. Operating income fell because of the “remaining effects of adjustments for unrealized income” as well as higher R&D expenses for its system supplier strategy.
Its largest segment, Motorcycles, reported a sales increase of 6.6% to ¥509.2bn, with operating income increasing 86.8% to ¥33.8bn
Its Power Products saw a slight decrease in products, but its other business segments were up for the first six months. The company said that a “relatively stable” exchange rate, cost reductions for manufacturing, and product mix and pricing improvements contributed to profitability.
Yamaha forecasts full-year sales to grow 8.5% to ¥1,630bn, with net income up 42.5% to ¥900bn.